Quintos, Paul Emmanuel

BSMA 3102
Summative Evaluation No. 2

Learning Materials No. 4

Compensation And Benefits

In this learning module, I learned that compensation is the key factor in order for
a employee to become motivated, perform well in job and even to stay in the
company. A compensation might include pay, health care benefits and bonuses. The
variation of compensation always depends on the performance made by an employee.
This performance tracker or job evaluation system seeks fair between all the
employees. In this tracker, it uses a point factor system which is all about the factors
in compensating employees. Aside from point factor system, the pay grading is also
used. In here, it helps in setting the pay scale for specific jobs or type of jobs. Another
pay model is the management fit model. In this model, each manager makes a
decision about who should be paid and what when that person is hired. Other models
are Skill based pay, competency based pay, broad banding, and variable pay system.
Skill based pay is a type of pay system where the salary levels depends on the
employee shown skills. Competency based pay looks on the traits or characteristics of
an employee in giving salary pay. Broad banding is similar to pay grade system,
except all jobs in a particular category are assigned a specific pay category. Lastly,
variable pay system provides employees wit pay basis but then links the attainment of
certain goals or achievements directly to their pay.

Learning Materials No. 5

Retention and Motivation

As we all know, retention is all about keeping and motivating an employee to stay
in the company. It is because the cost of losing an employee is too high and this is
called employee turnover. In the module, I learned the difference between voluntary
turnover and involuntary turnover. Voluntary turnover is initiated by the employee
and can vary depending on their personal reasons. Some of these reasons can be due
to poor match between the job and the skills of the employee, lack of growth even if
they are staying in the company for years, fair internal pay equity, the management,
and too much workload. On the other hand, involuntary turnover is due to
organization’s choice. This can happen if the company needs to cut down cost,
retirement or maybe the termination cause by employee’s poor performance. As I
have said, turnover is high cost because of recruitment replacements, lost productivity
due to a new employee who is learning the job, cost for new training, etc. With this all
being said, it is necessary to know some retention plans. In this module, I learned the
Effective high performance work systems which look for the employee involvement
in the company and their response in the organization. Besides, I learned also the
Maslow’s hierarchy of needs and how it conveys the human motivation. This
hierarchical can help in satisfying an employee. Herzberg two factor theory also
taught me which aspects in work environment causes an individual to become
dissatisfies and what satisfies them. Motivators are the employee’s satisfiers and the
counterpart is the hygiene factor.